FY2024 EPS Estimates for Matador Resources Reduced by Zacks Research (NYSE:MTDR)

Matador Resources (NYSE:MTDR) – Equities research analysts at Zacks Research cut their FY2024 earnings estimates for Matador Resources in a note issued to investors on Tuesday, September 24th. Zacks Research analyst N. Banerjee now anticipates that the energy company will post earnings of $7.05 per share for the year, down from their prior forecast of $7.70. The consensus estimate for Matador Resources’ current full-year earnings is $7.63 per share. Zacks Research also issued estimates for Matador Resources’ Q4 2024 earnings at $1.68 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.95 EPS, FY2025 earnings at $7.17 EPS, Q1 2026 earnings at $2.12 EPS, Q2 2026 earnings at $2.02 EPS and FY2026 earnings at $8.77 EPS.

A number of other equities analysts also recently issued reports on the company. Stephens upped their price target on Matador Resources from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company upped their target price on shares of Matador Resources from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Benchmark reissued a “buy” rating and issued a $62.00 price target on shares of Matador Resources in a research report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on Matador Resources from $83.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Wolfe Research started coverage on Matador Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Matador Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.75.

Matador Resources Trading Up 4.1 %

NYSE:MTDR opened at $49.37 on Friday. Matador Resources has a 1 year low of $47.15 and a 1 year high of $71.08. The stock has a market cap of $6.16 billion, a P/E ratio of 6.76 and a beta of 3.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a 50-day simple moving average of $54.97 and a 200-day simple moving average of $60.29.

Matador Resources (NYSE:MTDR) last announced its quarterly earnings data on Tuesday, July 23rd. The energy company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.29. The business had revenue of $847.14 million for the quarter, compared to analyst estimates of $822.55 million. Matador Resources had a net margin of 29.01% and a return on equity of 21.12%. The company’s revenue was up 32.8% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS.

Institutional Investors Weigh In On Matador Resources

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Matador Resources by 31.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,041 shares of the energy company’s stock worth $125,435,000 after purchasing an additional 531,504 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of Matador Resources in the first quarter valued at $28,572,000. Public Employees Retirement Association of Colorado raised its stake in shares of Matador Resources by 14,874.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 427,520 shares of the energy company’s stock worth $24,309,000 after buying an additional 424,665 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Matador Resources by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,734,819 shares of the energy company’s stock worth $282,196,000 after buying an additional 356,506 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Matador Resources by 44.8% in the 4th quarter. Wellington Management Group LLP now owns 1,065,291 shares of the energy company’s stock worth $60,572,000 after buying an additional 329,522 shares in the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.

Insiders Place Their Bets

In other Matador Resources news, CEO Joseph Wm Foran purchased 2,000 shares of Matador Resources stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $55.96 per share, with a total value of $111,920.00. Following the acquisition, the chief executive officer now directly owns 35,251 shares of the company’s stock, valued at $1,972,645.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Joseph Wm Foran purchased 2,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $55.96 per share, with a total value of $111,920.00. Following the purchase, the chief executive officer now directly owns 35,251 shares in the company, valued at approximately $1,972,645.96. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Robert T. Macalik acquired 500 shares of Matador Resources stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $54.50 per share, with a total value of $27,250.00. Following the purchase, the chief accounting officer now directly owns 29,300 shares of the company’s stock, valued at $1,596,850. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 12,300 shares of company stock worth $634,615. Company insiders own 6.10% of the company’s stock.

Matador Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, August 15th. Matador Resources’s dividend payout ratio is presently 10.96%.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.